How do recent gasoline prices compare with historical prices?
Source: U.S. Energy Information Administration, Short-Term Energy Outlook, Real Prices Viewer (December 2015)
There are two ways to compare recent gasoline prices with historical prices. One way to compare gasoline prices is to examine the price actually paid at the pump, or the nominal price. The other way to compare gasoline prices is to examine the real price, which shows past prices in today's dollar value.
The graph at the right shows the average annual nominal and real prices of retail regular gasoline from 1976 through 2015. The real price is based on the value of the dollar in December 2015.
The graph also shows the U.S. Energy Information Administration's projected average annual prices for 2015 and 2016, from the December 2015 Short-Term Energy Outlook.
Use these resources to find the latest gasoline prices and price projections:
- Gasoline and Diesel Fuel Update—weekly U.S. and regional gasoline and diesel fuel price data
- Short-Term Energy Outlook—monthly projections for average monthly and annual U.S. retail gasoline prices for the current year and the next year
- Annual Energy Outlook—projections for average annual U.S. retail gasoline prices out to the year 2040